Tanker charter rates hit record highs amid West Asia crisis and bunker fuel tightness

Industry and business reports indicate that daily time-charter rates for tankers carrying crude to India have more than doubled over the past two weeks, jumping about 150% from roughly $100,000 to around $250,000 per day as the West Asia crisis escalates, with attacks in the Red Sea and heightened risks near the Strait of Hormuz. Global market coverage further notes that tanker rates have hit record highs on several key routes, while bunker fuel supplies have tightened, adding another layer of cost pressure to seaborne oil transportation. Freight derivatives analyses highlight that the benchmark VLCC rate from the Persian Gulf to China on the Baltic Exchange reached around $862,150 per day on September 10, a level described as a record or near-record for that route.